What’s behind the collapse in lead prices?
“The increasing output data should be the last straw for lead prices,” an analyst from Shanghai CIFCO Futures told SMM in a recent interview.
“Lead prices have been falling this month, and the report that China’s refined lead climbed to a five-month high of 381,941 tons stoked fears for a severe glut in the market, resulting in a slump in prices,” the analyst explained.
Analyst from Ruida Futures also pointed out that noticeable rises in both lead concentrate and refined lead production in November definitely added to a drag on prices which had already been pressured by waning consumption and weak macroeconomic conditions.